Carnival Season Kicks Off as Bitcoin Soars Towards $85,000

Carnival Season Kicks Off as Bitcoin Soars Towards ,000

It’s a party in the South, because there they celebrate the eleventh of the eleventh. This is not just any day, because today is the opening of the carnival season. You can’t start early enough. But there is also plenty of reason to celebrate on the stock exchange, because just look at the price of bitcoin, which is now approaching the $85,000 mark.

This is happening very quickly now, but most Trump Trades have already unfolded as the market expected, including bitcoin. Donald Trump expressed his enthusiasm for the crypto world in general, causing Bitcoin to increase in value by more than 10% in less than a week. Below you can see the price movements over the past twelve months.

This week, the focus is mainly on Shell’s lawsuit and ASML’s investor day. To start with Shell: tomorrow the judge will rule in the case on which Shell’s future depends.

The judge previously ruled that Shell must have reduced its emissions by 45% within 6 years (before 2030). One certainty is that this case can count on worldwide interest from lawyers, companies and many more interested parties.

Anyone who wants can follow the verdict via a livestream from 8 a.m via this link.

Two days after Shell, on Thursday it is ASML’s turn to update shareholders, if all the documents are not put on the street again a day earlier. Whether it’s High-NA EUV, capex, share buybacks or China, it’s sure to be interesting.

In addition to ASML, there is also more to do on the Damrak this week. There are still a nice number of Q3s waiting from ABN AMRO and Aegon, among others. On a macro level, we do this, among other things, with American inflation figures. Just look at how that flag is hanging at the moment.

After that, we only keep the figures from Nvidia (20-11) and a handful of important macro figures. Consider interest rate decisions by the Fed and ECB, purchasing managers’ indices, inflation and labor market figures. And before we know it we will already be in 2025. Will we have another end-of-year rally with hopefully some nice outlook increases for next year? That would be nice.

Risers & Fallers

Then to today’s headlines, which were mainly dominated by the news about Ebusco. On the day that the rights issue starts (i.e. today), the share is listed ex-claim: the rights issue concerns the issue of 43,853,031 new shares. These are sold at a price of €0.8209 each.

Each existing share entitles you to 1 claim, with which three new shares can be purchased. Approximately one third of the issue is covered and if the remainder is not sold, the entire issue will be withdrawn. The claims will be exercised on November 19.

Why Ebusco now shows a plus of about 42% is a somewhat technical story. The closing price on Friday has now been adjusted to an ex-claims quotation on our website, and compared to that price, the Ebusco share is now trading higher. Since today, the claims have their own listing on Euronext. You can see more about that here.

In any case, payment must still be made below, so let’s say that €36 million will largely pass through at a rapid pace.

So much for Ebusco. Hopefully you now have a better idea of ​​what’s going on. And the fact that the AEX is getting some color back in its cheeks is mainly evident from the fact that the index, with the exception of a number of funds, turns green. Those exceptions are called UMG and ArcelorMittal.

The trigger at UMG (-1.3%) was Bill Ackman, who wants to terminate UMG’s stock exchange listing in Amsterdam. But UMG does not give up easily and issued a statement last Saturday. See below.

Fellow decliner ArcelorMittal is trading ex-dividend today. There is also a lot to report in terms of news on the Damrak. We take a bird’s-eye view of the most important news. To start with, it has BAM completed its share buyback program. There is also news to report about this ASMI: talks between ASM PT and a potential buyer have been halted. ASMI also has a major interest in ASM PT.

Further reported B&S Groupwhich supplies duty-free shops at airports and cruise ships, among other things, that turnover increased by around 12% in the third quarter. The company achieved a turnover of €545 million in the months July to September, an increase of more than 12%.

However, the listed company is tempering overly high expectations for the whole of 2024. And that apparently weighs more heavily, because the share loses almost 2%. Is the share worth buying now?

Last but not least: Saba Capital Management has taken a stake of exactly 3% in PostNLwhich amounts to more than 15 million shares. This New York investor has a portfolio of around $6 billion and stakes in several major BlackRock funds, just to name a few. Below you will find the complete overview of today’s risers and fallers.

Wall Street turns green

At the time of writing, American stock markets are trading higher. Attention shifts to inflation figures and the last bit of corporate figures, now that the presidential elections and the Fed’s interest rate decision are behind us.

The stock markets in the United States also reached record highs again last Friday. It was the best trading week for the Dow and the S&P 500 since November 2023, with gains of 4.6% and 4.7%, respectively. The Nasdaq fared better with a rise of 5.7%. For the time being, Wall Street is continuing this good trend.

Annuities

On balance, interest rates today remain close to home. The Dutch fee on a 10-year government paper is 2.60% (-1 bp).

Broad market

A barrel of WTI oil is becoming considerably cheaper today and now costs $68.13. Bitcoin (+10.4%) is approaching the $85,000 mark. That’s going really fast now. The euro is falling against the dollar and is trading around 1.0653.

Gold is also falling, but is still comfortably above the $2600 mark. Silver falls along with it and is trading around the $30.50 mark. The market is not panicking, as can be seen from the VIX, which is trading at a level of 15.15.

Agenda: Tuesday, November 12

  • 06:30 Inflation – October final (NL)
  • 07:00 Kendrion – Third quarter figures
  • 07:00 OCI – Third quarter figures
  • 07:00 TKH – Third quarter figures
  • 07:00 Bayer – Third quarter figures (Germany)
  • 07:00 Infineon – Fourth quarter figures (Dld)
  • 08:00 Renewi – Third quarter figures
  • 08:00 Inflation – October final (Gld)
  • 08:00 Unemployment – September (UK)
  • 11:00 ZEW economic sentiment – November (Germany)
  • 12:00 SME business confidence – October (US)
  • 13:00 Tyson Foods – Fourth quarter figures (US)
  • 14:00 OPEC – Monthly report (Oos)
  • 22:00 Groupon – Third quarter figures (US)
  • 22:00 Spotify – Third quarter figures (Swe)

And then this

Ouch..

Stocks are hot!

Onze contra-indicator strikes again

There are a lot of them

Youri van Heumen is editor-in-chief. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.

Ladies and gentlemen, gather ‘round! It’s time to dissect today’s financial fracas and carnival capers that are brightening up the South. So, let’s dive right in, shall we?

### A Carnival and Bitcoin Bonanza!

First off, South of the equator, they’ve got the carnival spirit from the very start of the day on the eleventh of the eleventh! Brilliant, but I’m not sure if the confetti will mix well with the tears of investors at the stock exchange today. And speaking of mixed emotions, can we talk about Bitcoin? Approaching $85,000 like it’s sprinting on a tightrope—terrifying yet thrilling. If only my bank account showed similar enthusiasm when I check my balance after the weekend—seriously, it feels like it’s hiding behind the couch!

### Trump Trades and the Crypto Craze

Now, pivoting to Trump, who seemingly has become the unofficial cheerleader for the cryptocurrency world—”Go Bitcoin!” I expect tomorrow’s headlines to read: “Trump Tames the Bears, Bitcoin Roars!” With a surge over 10% in less than a week, some folks must be thinking they should have bought in when it was still a toddler— much like our former president’s grip on reality!

### Shell’s Innuendo and ASML’s Anticipation

Moving on from the whimsical world of crypto to the sobering seriousness of Shell’s upcoming court verdict. The judge has put them on an emissions diet—45% cut by 2030! It’s like a New Year’s resolution with a severe consequence if it’s broken. Meanwhile, ASML is also in the spotlight this week. Investor Day is upon us, and trust me, the shareholders will be flipping through those documents faster than I flip my pillows to find the cool side on a hot summer night.

### Ebusco and the Q3 Quandaries

Now, on the subject of today’s stock market news, Ebusco is strutting around like a peacock, up 42%! Why, you ask? Well, it turns out all that glitters isn’t always gold. They’re doing a rights issue—sounds fancy, right? It’s basically a way to sell new shares to existing shareholders, but with a lot of complicated paperwork. Have you ever tried assembling IKEA furniture? That’s the level of confusion we’re talking about here!

And then there are the poor souls at UMG and ArcelorMittal, whose stocks are taking a tumble… a bit like my optimism on Mondays. With UMG, it’s all about Bill Ackman trying to pull the rug out from under them, and that never ends well!

### Wall Street’s Green Light and Annuities’ Dilemma

Speaking of tumbles, Wall Street’s been painting itself green—like a very leafy salad post-election. The indices are at record highs! It’s like the financial equivalent of a light show on New Year’s Eve, but watch out for the hangover when the market wakes up from its sparkling champagne dreams.

Meanwhile, interest rates? They’re lounging comfortably—2.60% on 10-year government papers. Hardly the stuff of wild parties, but hey, someone’s got to keep it sensible, right?

### Commodities, Agendas, and More Market Madness

Oil prices are dropping faster than your favorite snack on the floor when you’re trying to impress someone. Gold is sliding too, but at least it’s still wearing its bling—over $2600. The euro’s flirting with the dollar at around 1.0653. And does anyone know what’s happening with silver? I swear it was up to something until it got tangled in gold’s drama!

### The Finishing Touch

As we look forward to tomorrow’s economic figures—American inflation among others—here’s hoping for an end-of-year rally like no other. Just remember, folks, investing is a lot like a carnival ride—great fun until it makes you sick!

So there you have it—chaos, carnival, and crypto madness melded into the financial fabric of this week. Keep your chin up, your wallets open, and, most importantly, your popcorn ready for what’s next! 🎉

In the southern regions, the atmosphere is electric as revelers gear up to celebrate the eleventh of the eleventh, marking the highly anticipated commencement of the carnival season. This vibrant occasion is not merely about festivities; it also coincides with significant movements in the financial markets, particularly in the crypto sphere, where Bitcoin is racing towards the impressive $85,000 milestone.

The recent surge in Bitcoin’s value, which has seen an increase of over 10% in just a week, can be attributed to Donald Trump’s renewed interest and support for the cryptocurrency landscape. As the market anticipates further developments, the price fluctuations over the last year highlight a transformative period for digital assets.

This week, all eyes are on the legal proceedings surrounding Shell and the eagerly awaited investor day at ASML. The case involving Shell is pivotal, as tomorrow, a judge will issue a ruling that could significantly impact the company’s operational strategy going forward.

The court had previously ordered Shell to meet a stringent target of reducing its carbon emissions by 45% by 2030. This high-stakes legal case has attracted global attention from legal experts, corporations, and environmental advocates alike, underscoring the urgency of the matter.

For those interested in following the significant verdict, it will be available via a livestream starting at 8 a.m. Click here to tune in.

Following Shell’s judgment, ASML will take center stage on Thursday to present crucial updates to its shareholders, assuming that no leaks occur prior to the event. With topics ranging from High-NA EUV technology to capital expenditures and share repurchases, this session promises to deliver valuable insights into the company’s future.

Meanwhile, the Damrak remains lively as other corporations, including ABN AMRO and Aegon, prepare to disclose their Q3 results. On a broader scale, the macroeconomic landscape is under scrutiny as American inflation statistics are anticipated to provide further context for market movements.

The coming weeks will also see Nvidia’s financial figures reported on November 20, alongside key macroeconomic indicators such as interest rate decisions by both the Fed and ECB, purchasing managers’ indices, and labor market data. Investors are left wondering whether we’ll witness an end-of-year rally that propels optimism into the next fiscal year.

Risers & Fallers

Today’s headlines are prominently influenced by Ebusco. As the day marks the commencement of their rights issue, the share is now trading ex-claim, which involves the issuance of 43,853,031 new shares, available for purchase at €0.8209 each.

Shareholders are entitled to one claim per existing share, which allows them to buy three new shares. Currently, only one-third of the issue has found coverage, and should the remaining shares go unsold, the entire issue will be annulled. Investors can expect the claims to be exercised on November 19.

Despite Ebusco’s current shares registering an approximately 42% increase, this uptrend stems from technical adjustments related to the adjusted closing price from Friday. As these claims now feature their own listing on Euronext, investors are keen to follow this development closely.

The increased trading activity is evident as Ebusco anticipates a significant influx of funds, with projections suggesting around €36 million will flow through rapidly.

Beyond Ebusco, it’s encouraging to note an overall positive shift in the AEX index, which is gaining momentum despite a few outliers such as UMG and ArcelorMittal exhibiting declines. UMG’s stock has slipped by 1.3%, largely due to Bill Ackman’s proposal to terminate its listing in Amsterdam, prompting a resilience from the company as it responded with a statement last Saturday.

ArcelorMittal is meanwhile trading ex-dividend today, indicating ongoing activity in the markets. BAM has successfully completed its share buyback program, while ASMI reports stagnant discussions regarding potential buyers for ASM PT, a company in which it holds significant interest.

In other news, the B&S Group, which services duty-free shops on cruise ships and in airports, announced a commendable 12% growth in revenue for the third quarter, reaching €545 million. However, the firm has tempered expectations for 2024, leading to a decline of nearly 2% in its stock price. Investors are left contemplating whether the shares present a buying opportunity at this juncture.

Lastly, Saba Capital Management has acquired a stake of 3% in PostNL, amounting to over 15 million shares. This notable investor, based in New York, commands a portfolio exceeding $6 billion and holds interests in several major funds including those managed by BlackRock. Below is a detailed overview of today’s market risers and fallers.

Wall Street turns green

As of now, U.S. stock markets are experiencing positive momentum, with attention shifting towards inflation numbers and upcoming corporate reports following the recent presidential elections and the Fed’s interest rate announcements.

The American stock indices, particularly the Dow and S&P 500, celebrated significant weekly gains of 4.6% and 4.7%, marking the best trading week since November 2023. The Nasdaq outperformed with an impressive 5.7% rise, fueling continued optimism on Wall Street.

Broad market

On a broader scale, WTI crude oil prices have dropped considerably, now sitting at $68.13 per barrel. Bitcoin’s swift ascent, aided by a 10.4% surge, indicates it is nearing the $85,000 benchmark, showcasing rapid market dynamics. Meanwhile, the euro is declining against the dollar, currently trading around 1.0653, with gold also falling yet remaining well above the $2,600 mark. Silver mirrors this trend, trading around $30.50 per ounce. The market maintains a calm demeanor, as evident from the VIX index hovering at 15.15, indicating subdued volatility.

Agenda: Tuesday, November 12

  • 06:30 Inflation – October final (NL)
  • 07:00 Kendrion – Third quarter figures
  • 07:00 OCI – Third quarter figures
  • 07:00 TKH – Third quarter figures
  • 07:00 Bayer – Third quarter figures (Germany)
  • 07:00 Infineon – Fourth quarter figures (Dld)
  • 08:00 Renewi – Third quarter figures
  • 08:00 Inflation – October final (Gld)
  • 08:00 Unemployment – September (UK)
  • 11:00 ZEW economic sentiment – November (Germany)
  • 12:00 SME business confidence – October (US)
  • 13:00 Tyson Foods – Fourth quarter figures (US)
  • 14:00 OPEC – Monthly report (Oos)
  • 22:00 Groupon – Third quarter figures (US)
  • 22:00 Spotify – Third quarter figures (Swe)

And then this

Stocks are hot!

Onze contra-indicator strikes again

Youri van Heumen is editor-in-chief. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.
Markable appetite for stocks right now, with ‍the market buzzing in response to ​the recent electoral results and promising corporate earnings. Hedge funds shorting stocks, particularly in the ⁢tech​ sector like Tesla, have faced significant losses, indicating a shift in market sentiment‌ toward ⁤bullish prospects.

This transformation is not only seen in individual stocks but also in broader indices, with the Dow, S&P 500, and ⁢Nasdaq enjoying substantial gains this week.‍ Investors’ optimism is buoyed by expectations of more positive economic indicators,⁢ especially as inflation numbers‍ are set to be⁤ released, providing further clarity on market trends.

As the week develops, all eyes will remain focused on the implications of Shell’s court ruling and the anticipated insights from ASML regarding their future strategies. Additionally, corporate ‍earnings reports from major players in various sectors will offer crucial information that could influence market directions in the lead-up to ⁢the end of the fiscal year.

Leave a Replay

Recent Posts

Table of Contents

Tags
Belgium Boursorama Brazil car charm Xi'an cojp Crime daily Donald Trump Entertainment news fashion football Gaza General News gold price Hamas health Indonesia israel Lifestyle Malayalam Manchester United meeting Mobile game Mode News News Translated into Japanese offers OPEC Budget pakistan Palestine Politics Russia Saudi women soccer Sports News stock exchanges trackers Translated News Ukraine weather Weather forecast World Xi'an Daily Official Website Xi'an News Network

© 2024 All rights reserved